Ramco Energy, the Aberdeen-based energy investment company, said Thursday that the joint venture between the state owned, Iraqi Drilling Company (IDC) and Ramco's associated company Mesopotamia Petroleum Company (MPC) has been signed by MPC, IDC and the Iraqi Ministry of Oil Thursday in Baghdad.
Ramco holds a 32.66% interest in MPC, which was set up specifically to secure a position in Iraq through bidding on oil services contracts as well as exploration and production opportunities.